Companies (Amendment) Act 2025 · As enacted
5. Insertion of new section 51A of the principal enactment
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The following new section is hereby inserted immediately after section 51 of the principal enactment, which shall have effect as section 51A of the principal enactment:-
51A. (1) Every holder of any share warrant to bearer or bearer shares shall, within sixty days from the date of operation of the
Companies (Amendment) Act, No. 12 of 2025
inform the issuing company of such fact and provide to the secretary of the company in writing his name, address and other contact details.
The company shall, upon the receipt of details under subsection (1) maintain a register and record such details forthwith.
“Duty of the existing holder of any share warrant to bearer or bearer share.
Where any holder of any share warrants to bearer or bearer shares fails to comply with the provisions of subsection (1), any rights associated with such share warrants to bearer or bearer shares shall stand nullifi ed at the end of such period specifi ed in that subsection.
Every holder of any share warrants to bearer or bearer shares shall, within sixty days from the date of operation of the Companies
(Amendment) Act, No. 12 of 2025 or upon the nullifi cation under subsection (3), convert such share warrants to bearer or bearer shares to shares in registerable form for the purpose of the shareholder register under the provisions of section 123(1).”.